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leisure opportunities 4 - 18 october 2016 ISSUE 694
Daily news & jobs: www.leisureopportunities.co.uk
DW swoops for entire Fitness First estate DW Sports has become one of operators for 14 Fitness First sites that are “not core to its the largest health club operators in the UK in one fell swoop with future plans”. the acquisition of Fitness First UK Among those thought to be and its whole 62-club portfolio. in the hunt for the surplus sites The deal will almost double are The Gym Group and GLL. DW’s current 78-club estate In early September, the to 140 sites, although most former’s chief executive significantly it will give the John Treharne told Leisure operator a foothold in the Opportunities that it had south of England which has “exchanged contracts on four proved elusive thus far. sites from another operator”, Both organisations declined but he declined to comment to disclose the value of the deal. further on the deal. Fitness First’s brand will be GLL is understood to be eyeing maintained, and the business will the clubs as it bids to expand on continue to be led by managing its 250-club strong portfolio. Dave Whelan (left) and Scott Best (right) said the company would invest in the sites director Martin Seibold, who “The acquisition of Fitness will “work closely” with Scott First will allow DW Sports to As part of that investment, Best said that the invest further in innovation, upgrading and Best, managing director of DW Sports. Owner and chief executive of DW Sports, Dave chain was looking to install swimming pools maintaining the existing Fitness First sites,” Whelan, highlighted Fitness First’s “significant in some of the larger London clubs. said Best. “At the same time, we plan to invest investment in its brand portfolio” as a key However, DW only plans to retain 48 of in new openings for the brands and the factor in the deal, and committed his business the acquired sites in the long-term, and has continued refurbishment of our DW portfolio.” exchanged contracts with other unnamed Details: http://lei.sr?a=e7R8K_O to “continuing that investment” going forward.
Merlin gets £5m fine for Alton Towers Smiler crash Merlin Entertainments has been fined £5m after last year’s horrific Smiler crash at Alton Towers – an accident which left five visitors with life-changing injuries including two leg amputations. “No financial penalty can put the clock back, and should not be seen as putting a value on the victims’ injuries,” said judge Michael Chambers, delivering his verdict. “It was a needless and avoidable accident in which those injured were fortunate not to have died.” Continued on back cover
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Pure Gym confirms stock market plans Budget health club operator Pure Gym has announced plans to float on the London Stock Exchange in a deal which could see it raise £190m. The UK’s largest private gym chain said it would use the funds raised through the initial public offering to bolster future growth opportunities. “We are ready to become a listed company,” said Humphrey Cobbold, CEO of Pure Gym. “An IPO will enable us to be an even stronger counterparty for landlords, further raise our profile by building greater awareness of our strong brand, and provide a mechanism for incentivising the colleagues who have worked so hard to build the UK’s leading gym business.
Cobbold said Pure Gym was ‘ready’ for the move
“We have a well-established and committed management team and are already benefiting from the scale of our 167 gym estate which provides a fantastic platform for future expansion in the fitness and health arena.” Details: http://lei.sr?a=P8p6T_O
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